The long-troubled Serenity Towers high-rise at 400 S. Highland, steps from the University of Memphis, is officially on the market after years of complaints, code crackdowns, and courtroom drama. The two 10-story buildings now sit empty following a 2024 chronic-nuisance declaration and a 2025 shutdown, and the fresh listing frames the property as a blank slate for student housing, multifamily conversion, or a mixed-use overhaul. Neighbors and tenant advocates say whatever comes next will reshape a key stretch of the Highland Strip.
What’s on the market
The site is being pitched as a “redevelopment opportunity” by Colliers Memphis, which describes the twin towers as fully vacant and primed for adaptive reuse or student-focused housing. According to Colliers, the two 10-story buildings sit on about 2.48 acres at 400 S. Highland, were constructed in 1965, and historically contained 399 apartment units. The listing names Andrew Phillips of Colliers Memphis as the broker contact.
How the towers reached this point
The sale follows the city’s move to brand the complex a chronic nuisance after years of complaints about broken elevators, lack of hot water, pest issues, and a heavy volume of police calls, as detailed in a chronic-nuisance petition. That legal offensive and subsequent hearings put Serenity Towers under court supervision, and tenants and advocates say a pattern of code failures left many seniors without dependable basic services. Local organizers repeatedly blasted the owner’s management and pushed for tougher oversight.
Closure and city intervention
After months of court orders and code-enforcement sweeps, the property was closed in 2025, and city officials stepped in to stabilize conditions while residents were relocated and emergency work got done, according to Action News 5. Courts levied fines on the operator for unresolved violations, and at points, the city itself paid for urgent repairs, such as elevator fixes to keep residents safe. Those measures, along with shifts in management, ultimately cleared the path for the property to be offered for sale.
Redevelopment pitch and neighborhood context
In its marketing, Colliers leans hard on the towers’ location by the University of Memphis and the Highland Strip, arguing that the visibility and density make the site a strong candidate for student housing or a mixed-use project. According to Colliers, these are among the primary concepts being floated to potential investors. At the same time, neighborhood advocates point to the tension between a shiny new development and the loss of deeply affordable units that served long-time residents.
Legal path and what to watch next
Because Serenity Towers is entangled in Shelby County Environmental Court proceedings, any sale will likely have to navigate outstanding fines, possible receiver orders, and conditions tied to the court record, Action News 5 reports. The current listing does not specify an asking price, and court filings, along with Colliers’ offering documents, are expected to show whether a buyer must commit to preserving affordable housing or formally address past violations. City officials and tenant advocates say they plan to watch those filings and broker disclosures closely as suitors line up.
For now, the two towers sit empty while developers and city leaders weigh renovation against demolition, and the final call will determine whether the Highland Strip gains new housing choices or loses what used to be a significant cluster of subsidized units.
